Understand Your eCommerce Marketing ROI: Inbound Commerce with Magento and HubSpot
Your eCommerce site is up and running, and sales are finally starting to pick up. You decide the next best step is to invest in your eCommerce marketing strategy, in hopes of increasing online revenue. You've heard about "inbound marketing for eCommerce", so you hop onto an inbound marketing automation software and focus on delivering fresh, targeted content to your online audience.
After investing time and effort into inbound marketing, you find your eCommerce sales have increased by 30%. You think to yourself, is this because of my new marketing strategy, or is it all just a coincidence? By integrating the Magento eCommerce platform and the HubSpot inbound marketing software, you can attribute ROI directly to blog articles and social media posts with sophisticated eCommerce marketing analytics reports.
By incorporating an inbound commerce strategy with the HubSpot integration for Magento, online sales will increase from both new traffic and existing customers. The connector allows for the existing and past customer data in your Magento store to transfer over to HubSpot, where you can better under their recent activity, browser type, abandoned carts, lifetime customer statistics, and average order value, just to name a few of the offered features. Based on this customer data, you can create segmented marketing campaigns, nurture your customers more effectively, and deliver content that will make they loyal and dedicated to your brand.
Analyze Inbound Commerce ROI through Blogging
The Hubspot Integration for Magento allows you to better understand what specific marketing channels and campaigns are helping you generate the most revenue. HubSpot offers a suite of analytics and reporting tools that allow you to effectively view which marketing actions turned into revenues during any given period of time. The report is ready in just seconds and can be sent to anyone in your company.
The analytics developed by HubSpot and Magento clearly show how much revenue the company is bringing during a specific period of time, lending to increased traffic due to certain marketing strategies, such as blog articles, that bring more traffic to your eCommerce website. As you can see, it clearly explains how each mean of marketing is performing through large texts and color. HubSpot and Magento's forces combined are truly a user-friendly avenue to understanding your customers' behavior.
The above report shows specific customers, their order’s grand total, and the date of purchase. If you compare these trends with those of specific inbound marketing strategies for eCommerce–in this case, blog articles–you can better infer which of these strategies are producing the most ROI. By following this analysis, you can save yourself time, money, and other resources.
By integrating this collaborative system, you are able to clearly view and understand the steady incline and decline in sales. In the case of the broad match modifier (BMM) chart above, you can imagine a more specific keyword being entered in by the company to help reach more of their target audience, which inevitably leads to more sales.
Attribute Inbound Commerce Sales to Social Media and Traffic Campaigns
Now that you understand how each of your eCommerce marketing campaigns work for your customers and their respective ROIs, you can begin compiling different email lists to target your different customer segments. You can build an email list of everyone who's purchased similar product, and directly target them with up-sell and cross-sell emails of related products. Customers who order above a certain amount of money can be put into a VIP list for a special deal and offers.
Using HubSpot's Social Inbox tool, you can determine which of your customers are most active on social media accounts and target these engaged influencers. The graph below shows the different means of social media promotion that led to new store orders. With this specific information, you can make every visit to your eCommerce website a personalized experience. The possibilities for increasing your revenue are endless with these specific circles.
Gathering a customer’s information and contact information is extremely important for your inbound marketing plan. Understanding who your customer is and what their needs are will help increase traffic to your eCommerce website. HubSpot and Magento together allow you to generate graphs and charts, similar to the one seen above, to better help you view when a customer was acquired and how many customers you were able to acquire.
Nurture Abandoned Carts with Automated Emails
Who you send your emails to is only the first step. Personalizing the content of your emails by can be easily accomplished by analyzing the items in abandoned carts. It is your job to remind your customers what they were considering to purchase. HubSpot’s workflow tool allows you to send time-sensitive, personalized, automated emails to your customers who have abandoned carts. This quick follow-up process will decrease the amount of cart abandoners in the future. Magento and HubSpot assist in improving the content of your emails as well as by offering an up-sell option that shows a shopper related products as well as top sellers. Including these selected items in your email will improve your eCommerce site’s web traffic.
The above illustrates a more detailed approach to understanding your customers. Looking at the data, the top tiered buyers had an order with the highest grand total due to paid searches. In this case you should consider whether it is worth your money to further invest in this strategy to continue having these high paying customers. There are many ways to approach this problem; one might consider a discount deal for these VIP customers or even offering a perk to those who referred a customer.
If you’re interested in increasing your revenue and bettering your understanding of your company, try the connector free for 30 days and keep using it for $79 a month.
